NEW YORK CITY-SoHo Properties and MHP are partners in a pending deal to acquire 560 Seventh Ave. The deal that is in contract is valued at $61.5 million.
The SoHo and MHP partnership intends to demolish the building that is currently owned and occupied by Parsons The New School for Design and build a hotel with retail space in its place, according to the Commercial Observer.
The New School announced earlier this year that it planned to sell the 560 Seventh Ave. property and relocate the Parsons Fashion School to its Greenwich Village campus.
Bob Knakal of Massey Knakal Realty Services is representing the seller, Parsons. A team from MHP is representing the SoHo-MHP partnership. See story in the Commercial Observer.
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